anas deposited 2000 rupees in a bank which place 6 % interest compounded annually how much would he get after 3 years
Answers
Answered by
2
Answer:
We are given P = Rs. 20,000, R = 6% and n = 1
2
1
years. Here the interest is to be calculated semi annually. Hence 2n = 3. We have the formula to calculate the amount semi annually. Using this formula, we can find the amount directly;
A=P(1+
2×100
R
)
2n
=20000(1+
2×100
6
)
3
=20000(1+
100
3
)
3
=20,000(1.3)
3
≈21,854.54
Here ≈ denotes approximate value. Finally compound interest is given by
C.I.=A−P=Rs.21,854.54−Rs.20,000=Rs.1,854.54≈Rs.1,855.
Step-by-step explanation:
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Answered by
0
Answer:
The formula of compound interest is P(1+R/100)^T
= 2000(1+6/100)^3
= 2000 (1.06)^3
= 2000*1.191016
= Rs. 2382.03
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